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Grain storage a concern in South Dakota heading into winter
The Associated Press via AgWeb
A combination of unseasonably warm, dry fall weather and low corn prices could mean more grain is stored on farms this winter. Agriculture experts said that farmers will have to watch how they store their grain and wait for prices to rise, the Aberdeen News reported. Cold weather is critical to preserving grains, such as corn, South Dakota State University Extension agronomy field specialist David Karki said.
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Relentless demand from China bolsters soybeans
Soybean prices stayed aloft, bolstered by the second round of U.S. soybean sales to China this week. But corn and wheat prices fell slightly. January soybeans closed up 1 ¼ cents at $10.49. December corn edged down ½ cent at $3.50 ½, while CBOT December wheat slid 3 1/5 cents to $3.86 1/5.
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Temporary grain storage solutions
Successful Farming
If you are caught short on storage and can’t get a bin put up prior to harvest, there is another option besides taking grain to the elevator and suffering market-low prices. You can successfully hold grain outdoors for a couple of months until a new bin is ready. The key is creating a temporary holding area that minimizes quality losses. “Sufficiently dry corn (15% moisture or less) stored in piles only during cooler fall and winter weather does not usually need to be covered and aerated,” says Dirk Maier of Kansas State University. “It’s when grain is stored into the following spring and summer that tarp covers are used and provisions need to be made for aeration."
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Value of grain storage is rising, so are elevator profit margins
Southeast FarmPress
With demand for storage being the highest in recent years, elevators will benefit from collecting more on storage fees in addition to capturing substantial carry in the futures market and the ability to buy basis at a much cheaper level than last year.
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